Business

Report: Hawai‘i Residents Pay Lowest Property Taxes in Nation

February 28, 2018, 6:53 AM HST
* Updated February 28, 7:05 AM
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Photo courtesy of Clark Realty Corp.

A new report released by the personal finance website WalletHub ranks Hawai‘i as the state with the lowest real-estate property tax in the nation.

According to the analysis revealing 2018 Property Taxes by State, Hawai‘i residents pay an effective real-estate tax rate of 0.27 percent. The annual tax in the Aloha State on a $185,000 home—the median home value in the U.S.—is $501. On a state median value home, which is estimated at $538,400, the annual taxes are $1,459.

On average, American households spend $2,197 on real-estate property taxes every year, plus another $436 for residents of the 27 states with vehicle property taxes, according to the U.S. Census Bureau.

Source: WalletHub

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